Akwa Ibom Assembly approves govt. request to guarantee N5 billion loan for private firm

Akwa Ibom assembly
Photo Credit: www.nairaland.com
Akwa Ibom assembly Photo Credit: www.nairaland.com

The Akwa Ibom State House of Assembly at plenary on Tuesday approved a request to allow the state government guarantee Wizchino Construction Company to borrow N5 billion from a bank.

The approval followed Governor Udom Emmanuel’s request to allow the government stand as guarantor to enable the company to borrow the money from any bank to complete Etinan-Ndon Eyo road.

The letter, which was read by the Clerk of the assembly, Mandu Umoren, was received for deliberation through a motion moved by the House Leader, Udo Akpan (PDP).

The facility would be sourced from any bank with 15 .5 per cent interest rate, the governor said.

After deliberations, the House Leader, Udo Akpan, moved a motion for the approval and was seconded by Aniekan Bassey (PDP, Uruan).

The Speaker, Onofiok Luke, directed the clerk to communicate the resolution of the house to the governor for action.

The house also at plenary condoled with the family of the late Etim Inyang, who was the Inspector General of Police during the regime of Ibrahim Babangida.

The information of urgent public importance was brought to the house by Samuel Ufuo (PDP, Mbo).

Mr. Ufuo said the remains of Mr. Inyang would be laid to rest in his home town in Mbo Local Government Area on Saturday.

The Assembly adjourned plenary till November 25.



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